The Colorado Springs Downtown Development Authority is guided by a mission to build public and private investment partnerships that promote the physical and economic growth of Downtown Colorado Springs. Voters established the Downtown Development Authority (DDA) in November 2006 to provide programs and financial incentives to encourage Downtown development. DDA is governed by a board of 11 people appointed by Colorado Springs City Council. Downtown Partnership executes the work of the DDA as a contracted affiliate.
In 2016, City Council adopted the Experience Downtown Plan as the updated plan of development for DDA. The DDA is funded in two ways: first, by a 5-mill tax levy within the district to support its operations, and second, through Tax Increment Financing (TIF). The latter tax is the capture of increased property tax revenues following a baseline assessment. TIF revenues go into a special fund and as it grows, the funds can be leveraged for support of Downtown projects. The DDA’s TIF will expire in 2037.
To date, DDA has provided more than $2 million in support to a wide variety of businesses, nonprofits and initiatives that enhance the economic vitality of Downtown. This has included façade improvements of many small businesses; support of events such as the Downtown Olympic Celebration, Waldo Waldo 5K and many other special events that bring tens of thousands of people Downtown; enhancements to streetscapes and public spaces; and support for feasibility studies for projects that hold catalytic potential for Downtown. In all instances, DDA dollars leverage additional public and private investment, resulting in a multi-fold return from DDA support.
The Experience Downtown Plan Volume 1 serves as the Plan of Development for DDA. The plan was created in 2016 as an update to the original Imagine Downtown Plan, which governed the DDA from 2007 through the newest plan’s adoption in 2016. The Experience Downtown Plan consists of eight primary goals and 36 aligning action steps. The plan can be found heRE.
The DDA encompasses roughly two square miles of Downtown. For a map, click here.
For more information about DDA grants and Tax Increment Finance Reimbursement Agreements, click here.